In this blog, I want to share some short-term Elliott Wave charts of the BAUSCH Health stock which we presented to our members in the past. Below, you see the 1-hour updated chart presented to our clients on the 09/17/18 indicating that BHC ended the cycle from 06/13 peak low in black wave ((2)).
As BHC ended the cycle from 06/13 peak, at the low of around 20.37. It started a bounce higher. The bounce higher from 09/11 low (20.37) unfolded as a 5 waves . Due to the right side bullish stamp, in the higher timeframe (4H chart). We advised members that the right side remains to the upside against 20.37 low. Therefore, we expected buyers to appear in the dips in the sequences of 3, 7 or 11 swings. At the 100 – 1.236 Fibonacci extension of blue (a)-(b). Which came at around 21.90-21.60 area. And that was the first area for buyers to appear to take prices to new highs above black wave ((i)) peak or a larger 3 waves bounce at least.
